CANADA STOCKS-TSX set to open lower on weak commodities

Thu Dec 4, 2008 8:46am EST
 
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TORONTO Dec 4 (Reuters) - The Toronto Stock Exchange's main index could open lower on Thursday with weaker oil and gold prices in focus and as investors digest quarterly results from Canada's big banks including Toronto-Dominion Bank (TD.TO: Quote).

On Wednesday, the S&P/TSX composite index .GSPTSE closed down for a third straight session, slipping 30.85 points, or 0.37 percent, to 8,296.96 amid weakness in oil and gas stocks.

Here is some of the news that may affect the market.

BANK EARNINGS

Canadian Imperial Bank of Commerce (CM.TO: Quote) said its quarterly profit fell 51 percent due to a variety of securities writedowns and mark-to-market losses [ID:nN03335793], while Toronto-Dominion Bank's (TD.TO: Quote) quarterly profit fell 7 percent because of previously announced write-downs for credit-trading losses in illiquid debt markets. [ID:nN03464085]

Results from National Bank of Canada (NA.TO: Quote) and Canadian Western Bank (CWB.TO: Quote) could also be in focus.

BOMBARDIER (BBDb.TO: Quote)

Bombardier says quarterly profit more than doubles, helped by a rise in revenue but new orders for both airplanes and trains fell as tough economic conditions weighed. [ID:nN04492400]

CANADIAN POLITICAL CRISIS   Continued...